| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 17th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 164 W Oakland Ave, Columbus, OH, 43201, US |
| Region / Metro | Columbus |
| Year of Construction | 1972 |
| Units | 35 |
| Transaction Date | 2007-11-06 |
| Transaction Price | $2,325,000 |
| Buyer | KANELLOPOULOS GEORGE |
| Seller | ARGO PROPERTIES LLC |
164 W Oakland Ave Columbus Multifamily in Urban Core
Neighborhood data points to a deep renter base and strong amenity access, while occupancy trends for the neighborhood have lagged the metro but inched up recently, according to WDSuite’s CRE market data. The balance suggests durable tenant demand with prudent lease management and positioning.
Situated in Columbus’s Urban Core, the property benefits from a neighborhood that ranks competitive among 580 Columbus neighborhoods for amenities and parks, with restaurants and groceries placing in the top quartile nationally. This translates to convenient daily needs and lifestyle appeal that typically supports leasing velocity and tenant retention.
The neighborhood shows a high share of renter-occupied housing (renter concentration), ranking competitive among 580 metro neighborhoods and near the top nationally. For investors, this indicates a deep tenant base and steady multifamily demand. Neighborhood occupancy sits below the metro median but has improved modestly over the past five years, suggesting room to capture demand with effective operations and targeted capital plans.
Within a 3-mile radius, demographics show modest population growth and a meaningful increase in households over the last five years, with forecasts calling for additional household growth. This expansion supports renter pool growth and can underpin occupancy stability as more residents seek well-located rental options near jobs and services.
Home values in the neighborhood sit in a higher national percentile relative to incomes, reinforcing rental reliance and helping sustain demand for multifamily units. At the same time, rent-to-income considerations warrant ongoing lease management to mitigate retention risk. The 1972 construction is newer than the neighborhood’s average vintage, positioning the asset competitively versus older stock; investors should still anticipate selective modernization and system updates to meet contemporary renter expectations.
Safety conditions reflect an Urban Core profile with higher reported crime than many Columbus neighborhoods and below national safety percentiles. The neighborhood’s crime rank sits below the metro median among 580 neighborhoods, and recent year-over-year indicators point to an uptick. Investors typically address this with visibility, access control, and partnerships with local patrol resources, and should compare on-site incident trends to broader submarket baselines.
Proximity to major employers supports renter demand through commute convenience and a broad white-collar employment base, including insurance, utilities, distribution, consumer goods, and retail headquarters located within a short drive.
- Nationwide — insurance (2.9 miles) — HQ
- American Electric Power — utilities (3.1 miles) — HQ
- Wesco Distribution — distribution (5.0 miles)
- Dr Pepper Snapple Group — beverages/CPG (5.6 miles)
- Big Lots — retail (6.1 miles) — HQ
This 1972 vintage, 35-unit property sits in a renter-oriented Columbus neighborhood with strong amenity access and convenience to major employment nodes. Neighborhood occupancy is below the metro median but trending modestly higher, creating an opportunity to pair operational execution with targeted upgrades for improved capture and retention. According to CRE market data from WDSuite, the surrounding area’s restaurants, parks, and groceries rank strongly versus national peers, aligning with demand drivers that typically support leasing stability.
Within a 3-mile radius, households have expanded in recent years and are projected to grow further, indicating a larger tenant base over time. Meanwhile, elevated ownership costs relative to incomes reinforce reliance on multifamily housing, though affordability pressures in parts of the renter pool call for thoughtful pricing and renewal strategies. The asset’s relatively newer vintage versus neighborhood norms can be leveraged with selective modernization to remain competitive against older stock.
- Renter-heavy neighborhood and strong amenity access support steady multifamily demand.
- Occupancy below metro median presents upside with focused operations and capital improvements.
- 3-mile household growth and employer proximity expand the tenant base and leasing funnel.
- 1972 vintage is competitive versus older neighborhood stock; targeted modernization can enhance positioning.
- Risks: urban-core safety considerations and affordability pressures require active security and lease management.